RE: NWI & CCH partners both moving todayIt's pretty out in the open. Both NWI and CCH issued press releases in the last two days. Especially considering the enormity of the Corner Bay Mine.
#1 - Ore is finally being milled from Corner Bay.
"Underground services have been completed, including the escapeway and vent raise, and development to the 100 metre level is progressing. Shipment of ore to the Copper Rand Mill commenced today. Nuinsco holds a 50% carried interest in Corner Bay, and is entitled to 50% of cash flow after recovery of capital by Campbell."
#2 - Look at the Outlook.
At a 3% Cu cut-off, Corner Bay has measured and indicated resources of 446,000 tonnes averaging 5.58% Cu (181,000 @ 5.07% Cu measured and 265,000 @ 5.93% Cu indicated); inferred resources total 1,441,000 tonnes averaging 6.76% Cu (Ref.: GEOSTAT Technical Report, July 2006, available on SEDAR at www.sedar.com).
Ore from Corner Bay is being trucked approximately 45 kilometres and processed at Campbell's Copper Rand mill near Chibougamau, Quebec. Following extraction of a 42,000 ton bulk sample, Phase II anticipates mining an additional 500,000 tons of ore grading 4.5% copper over the following three years. Corner Bay remains open at depth, where drilling has returned intercepts grading up to 9.27% copper over 6.7 metres at 1,200 vertical metres, attesting to the potential for significant expansion of resources. An exploration drilling program is planned for 2008 to further test the extension at depth. Nuinsco completed its earn-in of a 50% carried interest in the Corner Bay project in July of 2007.